Bank Unions Call Off Three-Day Nationwide Strike After Reaching Accord With IBA

UPDATE - follow-up to Bank unions defer three-day nationwide strike after 'understandings reached' with IBA: Bank unions have officially called off their proposed three-day nationwide strike following an online meeting with bank managements held at 9.30 pm on Sunday, September 28, 2026.

Strike Call Off

All banks will function normally and there will be no strike. The United Forum of Bank Unions issued a circular late on Sunday night announcing that an understanding had been reached with the Indian Banks' Association. Seven representatives of the bank unions and six banking executives attended the online meeting, which lasted about an hour.

Key Decisions

A high-level committee of the IBA and the UFBU will be formed immediately to deliberate on declaring the remaining Saturdays as holidays for a five-day working week. This committee will explore alternatives and consult all stakeholders, including customers, to prevent inconvenience. On the Performance-Linked Incentive Scheme for Scale IV and above officers, discussions will start with the IBA to propose modifications to the government to address union observations. Residual issues from minutes dated March 8, 2024, will also be discussed for quick resolution.

Context

Bank strikes often prompt urgent government intervention due to the risk of major disruptions to public services and financial operations. Unions and management regularly negotiate through umbrella bodies like the UFBU and IBA to resolve long-pending service condition disputes.